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BusinessDesk
Independent, Trustworthy New Zealand Business News
The Wellington-based BusinessDesk team provides a daily news feed for a serious business audience.
BusinessDesk - Latest News [Page 1009]
AMP Capital selling kiwi dollar in expectation of decline
Thursday, 17 April 2014, 3:25 pm | BusinessDesk
April 17 (BusinessDesk) - AMP Capital New Zealand, which manages more than $18 billion of assets, anticipates the kiwi dollar will start falling, and has started reducing its holdings in the local currency. More >>
BNZ’s new CEO Healy expects benefit from expanding economy
Thursday, 17 April 2014, 3:08 pm | BusinessDesk
April 17 (BusinessDesk) - Bank of New Zealand’s incoming chief executive Anthony Healy expects the lender to benefit from the nation’s burgeoning economy as he targets investment in higher growth areas such as agri-business. More >>
Genesis Energy soars on debut, other gen-taliers rise
Thursday, 17 April 2014, 2:41 pm | BusinessDesk
April 17 (BusinessDesk) – Shares in the partially privatised Genesis Energy soared 18 percent at their debut listing on the NZX this afternoon, buoying other listed energy companies in the process. More >>
‘Chipper’ kiwis push up consumer confidence in April
Thursday, 17 April 2014, 1:47 pm | BusinessDesk
April 17 (BusinessDesk) - New Zealand consumer confidence rose in April as kiwis became more confidence about their own financial position, giving them greater enthusiasm for buying major household items. More >>
Genesis shares stag 17% at listing, first trade at $1.81
Thursday, 17 April 2014, 1:04 pm | BusinessDesk
April 17 (BusinessDesk) – Shares in the partially privatised Genesis Energy debuted on the NZX this afternoon, rising 26 cents, or 17 percent, from their $1.55 issue price, to $1.81 in the first minutes of trading. More >>
Dick Smith slows NZ sales decline in Q3
Thursday, 17 April 2014, 1:00 pm | BusinessDesk
April 17 (BusinessDesk) – Dick Smith Holdings, the electronics retailer that went public last December, says it slowed the rate of sales decline at its New Zealand stores after shifting some support functions to Australia and outsourcing deliveries. More >>
Labour to double depreciation rate in targeted industries
Thursday, 17 April 2014, 12:55 pm | BusinessDesk
April 17 (BusinessDesk) – The major new element in the Labour Party’s manufacturing policy, announced today, assumes depreciation rates for assets in each affected industry would double, a party spokesman says. More >>
BNZ names Anthony Healy as new CEO, replacing Thorburn
Thursday, 17 April 2014, 11:07 am | BusinessDesk
April 17 (BusinessDesk) – Bank of New Zealand, the local unit of Australia’s third-biggest mortgage lender, named the head of its business bank, Anthony Healy, as its new chief executive. More >>
Depreciation, buy Kiwi-made in Labour manufacturing policy
Thursday, 17 April 2014, 10:14 am | BusinessDesk
April 17 (BusinessDesk) – The Labour Party has unveiled its pitch to the manufacturing sector, adding accelerated depreciation for advanced manufacturing and promising to target more government procurement from local firms. More >>
NZ dollar drops to 5-wk low vs. pound after upbeat UK jobs
Thursday, 17 April 2014, 9:11 am | BusinessDesk
April 17 (BusinessDesk) – The New Zealand dollar dropped to a five-week low against the British pound after UK unemployment fell more than expected and wage growth accelerated, turning investor attention to the possibility of higher interest rates. More >>
KiwiSaver tax rates need fixing, world’s ‘most punitive’
Thursday, 17 April 2014, 8:00 am | BusinessDesk
April 17 (BusinessDesk) – New Zealand’s tax system heavily penalises KiwiSaver while offering massive tax breaks to property investors and needs to change, says savings lobbyist the Financial Services Council. More >>
While you were sleeping: Yellen shows support
Thursday, 17 April 2014, 7:25 am | BusinessDesk
April 17 (BusinessDesk) – Wall Street rose after US Federal Reserve Chairman Janet Yellen reassured investors that the central bank will continue with its easy money policy to bolster the US economic recovery. More >>
MARKET CLOSE: NZ shares gain on global rally; Diligent rises
Wednesday, 16 April 2014, 5:33 pm | BusinessDesk
April 16 (BusinessDesk) - New Zealand stocks joined a global rally as US company earnings growth lifted sentiment for equity markets. Diligent Board Member Services led the benchmark index higher after reporting first-quarter sales growth. Pacific ... More >>
NZ dollar falls to nine-day low after CPI misses estimates
Wednesday, 16 April 2014, 5:02 pm | BusinessDesk
April 16 (BusinessDesk) - The New Zealand dollar dropped to a nine-day low after slower than expected inflation raised questions over the track of rising local interest rates. More >>
Delegat’s founder Delegat to step back from daily operation
Wednesday, 16 April 2014, 3:34 pm | BusinessDesk
April 16 (BusinessDesk) – Jim Delegat, founder of Delegat’s Group, is stepping down from running the winemaker’s daily operations to focus on the company’s strategic direction. More >>
NZ government scales back larger applications for Genesis
Wednesday, 16 April 2014, 3:22 pm | BusinessDesk
April 16 (BusinessDesk) - The government will progressively scale down applications for large shareholdings in Genesis Energy ahead of tomorrow’s listing after the final partial privatisation in the current programme attracted 68,000 investors. More >>
Diligent shares jump as 1st-qtr figures show better growth
Wednesday, 16 April 2014, 3:06 pm | BusinessDesk
April 16 (BusinessDesk) – Diligent Board Member Services stock rose as much as 12 percent after the governance app developer posted quarterly figures showing sales growth hasn’t slowed as much as some investors had expected. More >>
NZ govt, Christchurch council target 700 new housing units
Wednesday, 16 April 2014, 12:52 pm | BusinessDesk
April 16 (BusinessDesk) - The New Zealand government and Christchurch City Council want to add a net 700 social housing units in the country’s second-largest city in two-and-a-half years and a bigger supply of affordable houses as part of a formal ... More >>
Imperial Tobacco NZ lifts Australian sales
Wednesday, 16 April 2014, 12:47 pm | BusinessDesk
Imperial Tobacco’s NZ arm lifts export sales to Australia; Philip Morris NZ boosts revenue More >>
Chinese company to build $200M hotel on Auckland waterfront
Wednesday, 16 April 2014, 11:18 am | BusinessDesk
Company linked to one of China’s richest women to spend $200 mln on Auckland hotel More >>
